Use the savings plan formula to answer the following question Your goal is to create a college fund for your child Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $82,000 in 12 years? You should invest $ each month (Do not round until the final answer. Then round to two decimal places as needed)
Use the savings plan formula to answer the following question Your goal is to create a college fund for your child Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $82,000 in 12 years? You should invest $ each month (Do not round until the final answer. Then round to two decimal places as needed)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Use the savings plan formula to answer the following question
Your goal is to create a college fund for your child Suppose you find a fund that offers an APR of 7%. How
much should you deposit monthly to accumulate $82,000 in 12 years?
You should invest $ each month
(Do not round until the final answer. Then round to two decimal places as needed)
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0
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enter](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F99b7d406-9dcc-478b-a6db-a541d728ff14%2F18b7bd8e-b549-472a-8ef8-338a5f050468%2Fg5tdh4d_processed.png&w=3840&q=75)
Transcribed Image Text:Use the savings plan formula to answer the following question
Your goal is to create a college fund for your child Suppose you find a fund that offers an APR of 7%. How
much should you deposit monthly to accumulate $82,000 in 12 years?
You should invest $ each month
(Do not round until the final answer. Then round to two decimal places as needed)
9
hp
fio
P11
O
>
0
fre
P
**
**
{
[
prt sc
delete
←backspace
1
home
num
lock
enter
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